Deloitte’s Campus Worforce Trends Survey Report revealed infant attrition rates as high as 25% for top MBA hires. The primary reasons for high attrition include unmet expectations, lack of proper mentorship, and insufficient career growth opportunities. Freshers often feel disconnected from the company’s culture and are likely to leave if they don’t see a clear career path.

Talent Management Strategies to address the issues:

Improved Onboarding: Companies are enhancing their onboarding processes to ensure new hires feel welcomed and integrated into the company culture.

• Example: Tata Technologies’ EDGE induction and onboarding program has contributed significantly to reducing infant attrition rates.

Buddy System or Mentorship Initiatives: Establishing mentorship programs to provide guidance and support to new employees.

• Example: Godrej & Boyce utilizes the ‘Buddy Connect’ program to help new hires understand the organization’s work culture, thereby aiding retention.

Continuous Engagement and Career Development: Offering clear career growth paths and learning opportunities to retain talent.

• Example: Tata Technologies attributes its success in reducing attrition to a systematic selection, onboarding, and engagement program that focuses on young graduates.

Dynamic Work Culture and Growth Opportunities: Creating a workplace environment that is flexible, adaptive, and continuously evolving, offering employees opportunities for professional development and career advancement.

• Example: Hindustan Zinc has focused on creating a dynamic work culture and offering fast-paced growth opportunities to retain top talent, including freshers.

References:

1. Deloitte Survey Report
2. More on Talent Management